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 66 days ago
 Source: contxto.com

Brazil's proptech Loft and Decorati create safety net to keep workers home

Quick Summary

Loft—Sao Paulo’s instant buying proptech startup—recently announced the launch of a R$5 million fund (approximately US$980,000) to protect construction workers’ income. Considering most of these employees are unable to work from home, social distancing could mean being unable to put food on the table. Of course, Loft is not alone, governments and companies are figuring out ways to keep these families from going under. 2 for 1Interestingly enough, Loft and Decorati will contribute one Brazilian real for each real paid upfront by their clients. Workers who receive these upfront payments will need to get the job done eventually, and the payment will be settled through work amortization.

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